Damage from Minimum Wage Laws

Thoughts on a Free Market Economy….

“Damage from Minimum Wage Laws”

By Phyllis Hunsinger

November 1, 2020

                What is a wage? The dictionary defines wage as a fixed, regular payment by an employer to an employee, especially to a manual or unskilled worker. The wage represents the value that the employee brings to the job. 

                What is meant by minimum wage? A minimum wage is the amount per hour the government requires employers to pay any employee. Minimum wage jobs are generally entry level jobs.  These jobs are …

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” ‘I, Pencil’ for Today”

Thoughts on a Free Market Economy…

“’I, Pencil’ for Today”

By Phyllis Hunsinger

October 1, 2020

                Are you wondering why the economy is sputtering, trying to restart, after the tremendous interruption to our collective lives by the COVID-19 virus? 

                Perhaps the best explanation for this exists in an essay published in 1958 by Leonard E. Read, entitled “I, Pencil.”  The essay is written from the point of view of the pencil, who acknowledges that because of his simplicity, the pencil is taken for granted. Yet, as the pencil …

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Energy and The Free Market

Thoughts on a Free Market Economy…                                                        September 1, 2020

“Energy and the Free Market”

By Phyllis Hunsinger

                When California recently experienced rolling blackouts, defined by Google as a last-resort measure used by an electric utility company to avoid a total blackout of the power system, the governor of the state, Gavin Newsom, said, “The state failed to predict and plan for the energy shortage.”

Governor Newsom failed to include the obvious:  interrupting …

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Why is Capitalism the Best System?

           

Thoughts on a Free Market Economy…

“Why is Capitalism the Best System?”

By Phyllis Hunsinger

August 1, 2020

Socialism continues to influence conversations and policies, despite the historical fact that socialism has failed everywhere it is tried. Although its advocates lack data and facts to support their conclusions, the idea continues to exist that socialism is a more caring and moral system than capitalism.

            America was founded on the view that each of us is sovereign, having …

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The War on Small Business

Thoughts on a Free Market Economy…

“The War on Small Business”

By Phyllis Hunsinger

July 1, 2020

            As July 4, 2020 is celebrated in honor of winning the American Revolution and successfully breaking away from the tyrannical rule of England, another war is being waged right now in America.  The war on small businesses has not been officially declared, but the evidence of the aggression is on full display.  After an amazing economic comeback over the last three years, small businesses were beginning to flourish again.  That was …

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“Disrupting the Invisible Hand”

Thoughts on a Free Market Economy…

“Disrupting the Invisible Hand”

By Phyllis Hunsinger

June 1, 2020

            Adam Smith identified and named the concept “the invisible hand” in his book, “The Wealth of Nations.”  The “invisible hand” that is the driving force in a market economy is each individual promoting his or her self-interest.  Consumers aim to get the greatest satisfaction from their budgets; entrepreneurs try to achieve the highest profits for their firms; workers want the highest possible wages and salaries; and, owners of property resources attempt to …

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Economic Lessons via COVID

Thoughts on a Free Market Economy…

“Economic Lessons via COVID-19”

By Phyllis Hunsinger

May 1, 2020

            In the middle of a world pandemic, rarely is anything identified as a teaching moment; however, after this virus crisis is positioned in the rear view mirror, there will be an acknowledgment of lessons learned.  Every segment of society in the U.S. and around the world has been impacted by COVID-19.

            Schools were as ill-equipped to survive in these challenging times as any other industry or business.  Teachers had to be trained …

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“Free Market Solutions”

Thoughts on a Free Market Economy…

“Free Market Solutions”

By Phyllis Hunsinger

April 1, 2020

            The corona virus, COVID-19, has dominated the world’s interest since late January, 2020.  As this is written, a number of rather draconian actions have been taken by states and the federal government to try to stem the spread of this unseen enemy of the peoples of the world. When this virus is no longer a deadly threat and reflections of this period of time are made, the free market will surface as being …

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“Capitalism is Misunderstood”

Thoughts on a Free Market Economy…
“Capitalism is Misunderstood”
By Phyllis Hunsinger
March 1, 2020

The results of a Fox News poll, released on December 17, 2019, showed that nearly one-third of registered voters (31%) hold a favorable outlook on socialism. This percentage had actually grown since the previous Fox News poll from February 2019.

Why would capitalism lose ground to socialism in an affluent country?

Capitalism is defined as an economic and political system in which a country’s trade and industry are controlled by private owners for profit, rather …

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Taxes and the Proper Role of Government

Thoughts on a Free Market Economy…
“Taxes and the Proper Role of Government”
By Phyllis Hunsinger
February 1, 2020

The time between celebrating the New Year and Easter is the tax season. For income earners, this considerable effort involves compiling the paperwork, complying with the tax codes and laws, computing the amount owed, and finally paying the taxes.

Taxation is necessary to fund the proper role of government, which the Declaration of Independence and the U.S. Constitution describe as defending citizens against enemies both foreign and domestic and protecting …

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